- Case Inc Is A Construction Company Specializing In Custom Patios The Patios Are Constructed Of Concrete Brick Fiberg 1 (48.27 KiB) Viewed 55 times
- Case Inc Is A Construction Company Specializing In Custom Patios The Patios Are Constructed Of Concrete Brick Fiberg 2 (53.65 KiB) Viewed 55 times
- Case Inc Is A Construction Company Specializing In Custom Patios The Patios Are Constructed Of Concrete Brick Fiberg 3 (23.13 KiB) Viewed 55 times
Case Inc. is a construction
company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. $35,500 Raw Materials Inventory $4,600 Work in Process Inventory $5,900 Manufacturing Overhead Applied Manufacturing Overhead Incurred $30,000 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $600 $700 $1,000 Direct labor 300 600 700 Manufacturing overhead 375 750 875 $1,275 $2,050 $2,575 During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following Customer Job Materials Requisition Slips Time Tickets Rodgers $800 $800 Koss 2,000 700 Stevens 400 300 Linton 1.300 1.100 Rodgers 400 300 4,900 3.200 General use 1,400 1,400 $6,300 $4,600 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $19.800. Each customer paid in full.
Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods (Credit account titles are automatically Indented when amount is entered. Do not indent manually No. Account Titles and Explanation Debit Credit (2) (To record purchase of raw materials) (To record factory labor costs pald) (To record manufacturing overhead costs incurred) (To record assignment of direct materials) (To record assignment of factory labor) (2) IM [
(3) (To record completion of jobs) (To record sale of goods) (To record the cost of goods sold) 19